The Board of New Zealand Thoroughbred Racing has signed-off on a full review of NZTR governance. The Terms of Reference for this review are available on http://www.nzracing.co.nz/

In carrying out this review and communicating its findings, NZTR is seeking to establish clarity over
the best possible future governance structure and processes for NZTR, as well as aim to improve
industry understanding of the Board's roles and to stimulate other thoroughbred industry Committees and Boards to consider reviewing their governance models.

Guy Sargent, NZTR Board Chairman, stated: "The first and critical stage of this Review will be to gain a comprehensive understanding of stakeholder perceptions. The Board has agreed on a qualitative approach, using both group discussions and in-depth interviews with a wide range of industry participants. This aims to drill down into the deeper perceptions and attitudes that stakeholders have to NZTR governance and what recommendations stakeholders might have for improvement."

"Key findings will be announced at our Annual General Meeting (AGM) on 27 November at Riccarton Park in Christchurch and the full Report will be made public after the AGM. At that point we will invite public submissions."

"Discussion about the report's initial findings and recommendations at our AGM and public submissions will then help to determine the direction we move in. This direction must be guided by one simple outcome - achieving the best for New Zealand thoroughbred racing. If the call for change is strong enough, the Board will seek to present a resolution to Clubs at a Special General Meeting during 2009."

"The Board has determined responses will be analysed on the basis of themes, trends and weight of opinion, rather than percentages or cross-tabulations."

NZTR is working on this Review with Boardworks, a specialist consulting company formed in 1997 to assist governing boards of both commercial and non-commercial organisations, internationally. Boardworks has previously undertaken work in the racing industry, including recently working with the New Zealand Racing Board.

NZTR is looking to hold workshops in Auckland, Hamilton, Palmerston North and Christchurch during late October and early November, as well as in-depth interviews with specific key stakeholders.

Invitations to participate in the workshops, together with the Review's Terms of Reference, will be sent to identified industry participants in early October.